PwC: Wearable tech users seek enhanced retail experience

New York -- Twenty percent of American adults already own a wearable device and the adoption rate, on par with tablets in 2012, is quickly expected to rise. According to a PwC survey of 1,000 consumers, after dietary, exercise and medical information, an enhanced retail experience was at the top of the list of information Millennials would like wearable tech to provide them.

Fifty-one percent of Millennials said this would be information they'd like to know, as did 45% of the general population. Other notable survey results include:

· Seventy-two percent of people surveyed said it was very important for wearable technology to improve customer service. This was especially true among time-pressed parents, 76% of whom wanted wearable tech to make shopping a more pleasant, efficient experience.

· Consumers, especially Millennials, desire wearable technology in the retail space to reward them for being faithful customers. One in two millennials said they would be strongly motivated to wearables if it "has apps/features that reward those who frequently use it."

· In-store merchandising and promotional spending by brands is a key source of funding for retailers. With wearable tech, the tremendous potential for synergies will increasingly expand not only into advertising but also into content marketing, with brands providing content to retailers that will improve the shopping experience.

"Wearable technology will slowly shift retail conventions as retailers will be able to connect the dots between pre-store and in-store behavior, and reach a new level of interconnected retail," said Scott Bauer, PwC's U.S. retail & consumer practice partner and omnichannel leader. "How consumers pay for purchases and interact with the retailer while in store is expected to be radically redefined by wearable technology and retailers cannot afford to ignore the impact it could have on their bottom line."